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    Revvity Inc (RVTY)

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    Revvity, formerly known as PerkinElmer, is a leading provider of health science solutions, technologies, expertise, and services that deliver complete workflows from discovery to development, and diagnosis to cure . The company operates through two main segments: Life Sciences and Diagnostics, offering a range of products including instruments, reagents, software, and services . Revvity's revenue is nearly evenly split between these segments, with a significant portion being recurring in nature .

    1. Life Sciences Segment - Provides products and services targeted towards life sciences customers, focusing on preclinical research and development. Includes sales of instruments, reagents, software, subscriptions, detection and imaging technologies, extended warranties, training, and services .

    2. Diagnostics Segment - Develops diagnostics, tools, and applications focused on clinically-oriented customers, particularly in reproductive health, emerging market diagnostics, and applied genomics. Generates revenue from instruments, solutions, consumables, reagents, and services, with significant growth driven by immunodiagnostics and reproductive health businesses .

    NamePositionStart DateShort Bio
    Prahlad SinghPresident and Chief Executive OfficerDecember 30, 2019Prahlad Singh is the President and Chief Executive Officer of Revvity, Inc. He was elected to this position effective December 30, 2019. Prior to becoming CEO, Dr. Singh served as the President and Chief Operating Officer of the company starting in January 2019. He initially joined Revvity in May 2014 as the President of the Diagnostics business .
    Maxwell KrakowiakSenior Vice President and Chief Financial OfficerAugust 2022Maxwell Krakowiak is the Senior Vice President and Chief Financial Officer of Revvity, Inc. He was appointed to this position in August 2022. Before becoming CFO, he served as Vice President of Corporate Finance at Revvity, focusing on global finance transformation. Krakowiak joined Revvity in October 2018 .
    Joel S. GoldbergSenior Vice President, Administration, General Counsel, and SecretaryJuly 2008Joel S. Goldberg, aged 55, currently serves as the Senior Vice President, Administration, General Counsel and Secretary at Revvity, Inc. He joined the company in July 2008 as the Senior Vice President, General Counsel and Secretary. Before joining Revvity, Mr. Goldberg spent seven years at Millennium Pharmaceuticals, Inc. .
    Daniel R. TereauSenior Vice President, Strategy and Business DevelopmentJanuary 2016Daniel R. Tereau is the Senior Vice President, Strategy and Business Development at Revvity, having been appointed to this position in January 2016. He joined Revvity in April 2014 as Vice President, Strategy and Business Development. Prior to joining Revvity, Mr. Tereau served on Novartis' leadership team .
    Miriame VictorSenior Vice President, Chief Commercial OfficerJanuary 2021Miriame Victor, aged 43, joined Revvity in October 2014 as Sales Leader for the Diagnostics business in Europe. She most recently served as Vice President and General Manager for EMEAI before being appointed as Senior Vice President and Chief Commercial Officer in January 2021 .
    Tajinder VohraSenior Vice President, Global OperationsJanuary 2018Tajinder Vohra, aged 58, joined Revvity in October 2015 as Vice President of Global Operations and was appointed Senior Vice President, Global Operations in January 2018. He oversees all of Revvity's global operations, including manufacturing, supply chain, customer care, and distribution .
    Anita GonzalesVice President, ControllerMay 2023Anita Gonzales, aged 48, was appointed as the Vice President and Controller of Revvity in May 2023. She initially joined Revvity as the Senior Director of Integration and Controllership Initiatives in March 2021. Before her tenure at Revvity, Mrs. Gonzales spent ten years at General Electric Company (GE) .
    1. Given that your Life Sciences Instrumentation business is expected to decline mid-single digits in Q4 and Applied Genomics is projected to be flat, what specific steps are you taking to address these challenges and return these segments to growth?

    2. Your reagents business grew mid-single digits while peers in the RUO antibodies market are still down; can you elaborate on what's driving your better-than-peer performance in reagents and how sustainable is this outperformance considering both biopharma and academic customers were down low single digits?

    3. With the majority of your reagents focused on the preclinical side and considering ongoing pipeline rationalizations and cuts from large pharma, how exposed are you to potential reductions in preclinical R&D spending, and what strategies are you implementing to mitigate this risk?

    4. You mentioned that instrument normalization is not happening as quickly as anticipated and recovery is slower; given these challenges, how confident are you in your forecast for similar reagent volumes in Q4, and what indicators support your outlook for market stabilization or recovery?

    5. Despite peers flagging incremental headwinds in China immunodiagnostics, you've reported mid-single-digit growth and noted that your business is different; can you explain what differentiates your immunodiagnostics business in China and how you plan to sustain growth amid potential market headwinds?

    Program DetailsProgram 1Program 2
    Approval DateApril 27, 2023October 24, 2024
    End Date/DurationTerminated on October 24, 2024Expires on October 23, 2026
    Total additional amount$600 million $1.0 billion
    Remaining authorization amount$0 Not specified
    DetailsNo shares remain available for repurchase due to termination Some shares have already been repurchased
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$1.045 Other Debt Facilities, current N/A0.03% = (1.045 / 3,186.744) * 100
    2026$557.9 €500,000 Principal 1.875% Senior Unsecured Notes 1.875 17.5% = (557.9 / 3,186.744) * 100
    2028$500.0 1.900% Senior Unsecured Notes 1.900 15.7% = (500.0 / 3,186.744) * 100
    2029$850.0 3.3% Senior Unsecured Notes 3.300 26.7% = (850.0 / 3,186.744) * 100
    March 2031$400.0 2.55% Senior Unsecured Notes 2.550 12.6% = (400.0 / 3,186.744) * 100
    September 2031$500.0 2.250% Senior Unsecured Notes 2.250 15.7% = (500.0 / 3,186.744) * 100
    2051$400.0 3.625% Senior Unsecured Notes 3.625 12.6% = (400.0 / 3,186.744) * 100
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP2002 PresentCurrent auditor

    Recent developments and announcements about RVTY.

    Financial Reporting

      Earnings Report

      ·
      5 days ago

      Revvity, Inc. (NYSE: RVTY) has announced its financial results for the fourth quarter and full year of 2024 as of January 31, 2025.

      Key Highlights:

      Fourth Quarter 2024 Results:

      • Revenue: $729 million, reflecting a 5% reported growth and 6% organic growth compared to the same period in 2023.
      • GAAP EPS: $0.78, up from $0.64 in Q4 2023.
      • Adjusted EPS: $1.42, up from $1.25 in Q4 2023.
      • GAAP Operating Income: $119 million, with a 16.3% operating profit margin, compared to $77 million (11.1% margin) in Q4 2023.
      • Adjusted Operating Income: $221 million, with a 30.3% adjusted operating profit margin, compared to $192 million (27.5% margin) in Q4 2023.

      Full Year 2024 Results:

      • Revenue: $2.76 billion, a slight increase from $2.75 billion in 2023.
      • GAAP EPS: $2.20, down from $5.55 in 2023.
      • Adjusted EPS: $4.90, up from $4.65 in 2023.
      • GAAP Operating Income: $347 million, with a 12.6% operating profit margin, compared to $301 million (10.9% margin) in 2023.
      • Adjusted Operating Income: $779 million, with a 28.3% adjusted operating profit margin, compared to $770 million (28.0% margin) in 2023.

      Segment Performance:

      • Life Sciences:
        • Q4 revenue: $336 million, a 5% increase year-over-year.
        • Full-year revenue: $1.25 billion, a 3% decrease year-over-year.
        • Q4 adjusted operating profit margin: 38.9%, up from 36.9% in Q4 2023.
      • Diagnostics:
        • Q4 revenue: $393 million, a 4% increase year-over-year.
        • Full-year revenue: $1.50 billion, a 3% increase year-over-year.
        • Q4 adjusted operating profit margin: 25.0%, up from 21.1% in Q4 2023.

      2025 Guidance:

      • Revenue: Expected to range between $2.80 billion and $2.85 billion.
      • Adjusted EPS: Forecasted between $4.90 and $5.00.

      CEO Statement:

      Prahlad Singh, President and CEO, stated, “We finished last year on a strong note positioning us well as we head into 2025. I am confident that the full potential of Revvity will be even more externally apparent as we move through this year following the significant transformation our business has undergone over the last several years.”

      Webcast Information:

      Revvity will discuss its results and 2025 outlook during a webcast on January 31, 2025, at 8:00 a.m. Eastern Time. The webcast and presentation are available on the company’s investor relations website.

      For further details, visit Revvity Investor Relations.

      , ,

    Financial Actions

      Debt Issuance

      ·
      Jan 7, 2025, 10:04 PM

      Revvity, Inc. (RVTY) has entered into a material definitive agreement that creates a direct financial obligation or an off-balance sheet arrangement.

      Key Details:

      • Nature of Obligation: The company has entered into a credit agreement involving multiple lenders, including Bank of America, JPMorgan Chase, and others, as part of a syndicated loan facility. This agreement includes provisions for loans, letters of credit, and other financial accommodations , ,.

      • Potential Financial Impact:

        • The agreement establishes obligations under synthetic lease arrangements, receivables facilities, and other off-balance sheet arrangements ,.
        • The company is required to maintain cash collateral under certain conditions, such as when a lender defaults or when outstanding obligations exceed specified limits.
        • The agreement includes guarantees for all existing and future indebtedness of the company and its subsidiaries, which could significantly impact the company's financial health if obligations are triggered ,.
      • Effect on Financial Health:

        • These obligations could increase the company's leverage and affect liquidity, especially if the company faces financial distress or defaults on its commitments.
        • The agreement includes covenants and conditions that may restrict the company's operational flexibility and require compliance with financial ratios and reporting standards.

      Implications for Stakeholders:

      • Investors: Should monitor the company's debt levels and compliance with the agreement's terms to assess potential risks to equity value.
      • Creditors: Need to evaluate the company's ability to meet its obligations under the agreement.
      • Management: Must ensure adherence to the agreement's covenants to avoid penalties or defaults.

      This development underscores the importance of closely tracking Revvity's financial disclosures and performance metrics to understand the full impact of these obligations on its balance sheet and overall financial health.